Home / Business and Economy / Quantum Leap: Pasqal Merges for $2B Valuation
Quantum Leap: Pasqal Merges for $2B Valuation
5 Mar
Summary
- Pasqal Holding SAS merges with a blank-check firm, valuing it at $2 billion.
- The French quantum startup secures $200 million in convertible financing.
- Alain Aspect, Nobel laureate, co-founded Pasqal, a full-stack quantum company.
French quantum computing startup Pasqal Holding SAS has agreed to merge with Bleichroeder Acquisition Corp. II, a special purpose acquisition company (SPAC). This transaction values the combined entity at $2 billion pre-money, with an expected pro forma market capitalization of approximately $2.6 billion upon closing in the second half of the year. The deal also incorporates a $200 million convertible financing, anchored by key investors including Inflection Point and BPIfrance Large Venture.
Pasqal, co-founded by 2022 Nobel Prize in Physics winner Alain Aspect, is a full-stack quantum computing company. It develops both hardware and software utilizing neutral atom technology, known for its scalability and flexible qubit arrangements. The company intends to use the proceeds from this offering to advance its core quantum technologies and product development.
This strategic move by Pasqal aligns with a broader trend of quantum technology firms opting for SPACs to access public funding. Companies like Infleqtion Inc. and Xanadu Quantum Technologies Inc. have also pursued this route. Building quantum computers is a capital-intensive endeavor with uncertain near-term profitability, making public listings through SPACs an attractive option for investors willing to support early-stage technology. The merger is expected to conclude in the latter half of 2026.
